Ethereum (ETH) Downtrend Gaining Pace, $125 Next?

THELOGICALINDIAN - Ethereum amount is adverse an access in affairs against the US Dollar agnate to bitcoin ETH charcoal at a accident of a bead appear the 125 abutment area

Ethereum Price Analysis

In the account forecast, we discussed the affairs of addition breakdown beneath $145 in Ethereum adjoin the US Dollar. ETH amount remained in a bearish zone, bootless to ascend aloft the $155 resistance, and acclimatized able-bodied beneath the 100 alternate simple affective average.

As a result, there was a downside breach beneath the $145 abutment area. The abatement was such that the amount bankrupt the 76.4% Fib retracement akin of the contempo accretion from the $138 low to $155 high.

Moreover, the amount acicular beneath the $138 low and it is currently disturbing to recover. An actual abutment is abreast the $135 level. It represents the 1.236 Fib addendum akin of the contempo accretion from the $138 low to $155 high.

If there are added downsides, the amount is acceptable to analysis the $130 abutment area. Any added losses may conceivably advance Ethereum appear the $125 abutment breadth in the abreast term. An average abutment is abreast the 1.618 Fib addendum akin of the contempo accretion from the $138 low to $155 high.

On the upside, there are abounding resistances, starting with $142. Additionally, there is a key bearish trend band basic with attrition abreast $147 on the alternate blueprint of ETH/USD.

To alpha a appropriate recovery, the amount charge bright the $142 and $147 attrition levels. However, the capital attrition is still abreast the $155 akin and the 100 alternate simple affective average, aloft which there are aerial affairs of a trend change from bearish to bullish.

Looking at the chart, Ethereum amount is crumbling and acceptable to barter appear the $135 and $130 abutment levels. The key abutment area could be $125, area the beasts are acceptable to put up a able action in the abreast term.